Paragraph 1 Timing of auctions and license application

Auctions for skim milk powder, whole milk powder, condensed milk and natural honey shall precede the import period, i.e. in June for quotas opening in July.

The specific guidelines by the Korea Agro-Fisheries & Food Trade Corporation will provide that the public notices for the auctions will be made eight calendar days prior to the deadline of the application for participating in the auctions.

For product items whose timeline of quota license application is not fixed in the Korea-EU Free Trade Agreement, the specific guidelines of the agencies designated to manage Tariff Rate Quotas (TRQs) (hereinafter referred to as ‘Recommending Agencies’) will provide for a license application period of at least seven calendar days from the first working day of the execution year referred to in Annex 2-A, point 5 of the Korea-EU Free Trade Agreement.